Aker — Earnings Release 2020

Feb 17, 2021

Aker ASA: Fourth quarter and preliminary annual results 2020 - Net Asset Value of NOK 53.4 billion

Aker ASA: Fourth quarter and preliminary annual results 2020 - Net Asset Value of NOK 53.4 billion

The Net Asset Value ("NAV") for Aker ASA and holding companies ("Aker") ended at

NOK 53.4 billion in the fourth quarter of 2020, a record increase of NOK 22.4

billion (75 per cent), dividend adjusted, from the third quarter. For 2020, the

NAV increased 10 per cent, dividend adjusted, from year-end 2019.

The Aker share price, adjusted for dividend, increased 42 per cent in the

quarter, outperforming the Oslo Stock Exchange benchmark index at 14 per cent.

For the full year, the Aker share increased 7.4 per cent, including dividend

paid, compared to a 4.6 per cent increase for the benchmark index.

"As proven in the last few months, the ability to continuously adapt is in

Aker's DNA. We have made a step change in our portfolio - diversifying and

claiming a position in renewable energy and green technology and increasingly

allocating more resources and capital to digitalization and industrial software.

We are now looking at a solid and prosperous industrial foundation - which

resulted is the largest quarterly value increase ever recorded," says Øyvind

Eriksen, President and CEO at Aker ASA.

Aker's Board of Directors proposes a cash dividend payment of NOK 11.75 per

share for 2020 and will propose for the Annual General Meeting in April 2021

that the Board is authorized to pay additional cash dividend in 2021 based on

the 2020 annual accounts. If an additional cash dividend is equal to the

proposed ordinary dividend for 2020 of NOK 11.75 per share, the total dividend

payment for 2021 will be NOK 23.50 per share, corresponding to a 4.2 per cent

yield to the share price and 3.3 per cent of NAV at the close of 2020.

"Organic growth combined with M&A continues to be our recipe for creating value

to shareholders in all parts of Aker. Furthermore, our portfolio companies are

increasingly leveraging the deep and growing domain expertise across the Aker

ecosystem, including within system integration, industrial software, and project

execution," says Eriksen. "This allows us to both rapidly claim a leading

position in new segments, form solid, long-term partnerships and carry out

transactions that build on complementary capabilities. Cognite's partnership

with Accel is one such example, another is Aker Horizons having in a short time

secured a foothold in important markets like solar, onshore and offshore wind

and hydropower, with additional opportunities in the near-term pipeline."

Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 4.3

billion as per 31 December 2020. Cash amounted to NOK 1.3 billion, down from 2.4

billion as per 30 September 2020. The value-adjusted equity ratio was 83 per

cent at the end of the fourth quarter, compared to 73 per cent as per 30

September 2020.

-ENDS-

For more information, please contact:

Christina Chappell Glenn, Head of Investor Relations, Aker ASA

Tel: +47 90532774

Email: christina.glenn@akerasa.com

Atle Kigen, Head of Corporate Communications, Aker ASA

Tel: +47 90784878

Email: atle.kigen@akerasa.com

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.